LONDON, April 18, 2018 /PRNewswire/ --
Right of Reply Ltd. ("Right of Reply" or "ROR"), a company providing technical solutions to the problems of Cyber Defamation and Fake News is pleased to announce the launch of a new website -http://www.rightofreply.news.
The website has information and videos about ROR's products and services. The "Investors" page contains useful information available to our current shareholders and future investors participating on the IPO listing. The investor section will have all of the available timely information and documents with complete and full transparency. This transparency is a key value of ROR and is at the heart of not only our products but also of our management, shareholders and investors.
Consolidated Financial Group results
ROR is also pleased to announce the first unaudited consolidated Financial results for 31 March 2018.
- Revenue increased from zero at 31 December 2017 to $945,073 for the first quarter 2018, representing revenues of $3,780,000 on a full yearly basis.
- Our net shareholder equity has increased from $145,366 at 31 December 2017 to $3,045,000 at 31 March 2018.
Thomas Brooks, CEO, Right of Reply Ltd.: "We are very pleased with the progress made including the new acquisitions and their subsequent integration into Right of Reply. These achievements are especially remarkable as they occur in parallel with the preparation of our IPO. We are coming to the market as the need for real solutions to cyber defamation and fake news is exceptionally growing. The new combined team is laser focused on building and deploying the best tools possible to allow truth to be distinguishable in the digital world."
RIGHT OF REPLY ROR CONSOLIDATED Unaudited Balance sheet 03.31.2018 $ ASSETS FIXED ASSETS Intangible fixed assets Industrial patent and intellectual property rights 49,619 Intangibles in progress and payments on account 11,618 Tangible fixed assets Other tangible assets 61,577 Investment Other receivables 4,425 Goodwill - Non controlling interest 2,271,667 TOTAL FIXED ASSETS 2,398,906 CURRENT ASSETS Receivables Other 367,093 Cash at bank and on hand Bank deposits 279,000 TOTAL CURRENT ASSETS 646,093 TOTAL ASSETS 3,045,000 LIABILITIES AND SHAREHOLDERS' EQUITY SHAREHOLDERS' EQUITY Share Capital 93,211 Reserve 1,528,757 Share premium reserve 27,270 Additional paid in capital 2,476,321 Retained earnings (accumulated deficit) (2,109,344) Net income (loss) for the accounting period (329,225) TOTAL SHAREHOLDERS' EQUITY 1,686,990 PAYABLES Suppliers - amounts due within 12 months 973,654 Bank 10,231 Tax 97,426 Other - amounts due within 12 months 276,698 1,358,009 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 3,045,000
RIGHT OF REPLY ROR CONSOLIDATED Unaudited Income Statement 03.31.2018 $ Sales Revenues 945,073 Others 43 TOTAL REVENUE 945,117 OPERATING COSTS Service costs 1,269,960 TOTAL COSTS 1,269,960 FINANCIAL INCOME AND EXPENSES Interest and other financial charges - other 3,477 PROFIT BEFORE TAXES (328,320) INCOME TAXES 777 PROFIT/LOSS FOR PERIOD (329,098) Exchange Rates (128) PROFIT/LOSS FOR PERIOD (329,225)
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SOURCE Right of Reply